Rural poverty declines sharply in FY24 to 4.86%: SBI research

'Sharp decline in rural poverty ratio is due to higher consumption growth in lowest 0-5% decile with significant govt support'

- OUR CORRESPONDENT

NEW DELHI: Rural poverty has declined significantly to 4.86 per cent in FY24 from 25.7 per cent in 2011-12 mainly driven by government support programmes, said a SBI research released on Friday.

Urban poverty too is estimated at 4.09 per cent, down from 13.7 per cent in 2011-12.

"The sharp decline in rural poverty ratio is on account of higher consumption growth in lowest 0-5 per cent decile with significant government support and such support is important as we also find that change in food prices has a significant impact on not just food expenditures, but overall expenditure in general," said the SBI research on consumption expenditure survey.